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Occidental Petroleum (OXY) Trading Near $69.49 Support Level

Dec 06, 2017 ( via COMTEX) --

The patented option-trade picking algorithms that power's Artificial Intelligence Center are highlighting two trades on Occidental Petroleum (<a href="">OXY</a>) today after it closed at $70 on Dec 5, 2017. For more conservative investors, look at a covered call using the May 18, 2018 $67.50 call for a net debit of about $65.65. This trade will return 2.81% (6.31% annualized, for comparison purposes only) as long as the stock closes above $67.50 at expiration. Occidental PetroleumAcan fall 6.21% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 18, 2019 $55 call taking the place of the long stock position and the same short position in the May 18, 2018 $67.50 call. This trade only costs about $11.04 to get into and the rate of return increases to 13.12% (6.31% annualized, for comparison purposes only) but the downside protection falls to 5.64%.

(C) Copyright 2017, All rights reserved. ********************************************************************** As of Saturday, 12-02-2017 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system

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